Author: lbostgadmin
Sri Lanka spice firm registers trademark over McDonalds objection: report
Dec 12, 2010 (LBO) – Lanka Spice Limited, a Sri Lankan-based spice firm has successfully registered its trademark ‘McCurrie’ over objection of McDonalds, a US-based fast food chain, a media report said. Lanka Spice has been in the market since 1982 The Sunday Times newspaper said. The report quoted Lanka Spice chairman Nalin Pathikirikorale as […]
Indian microlenders face crisis, warns industry group
NEW DELHI, December 12, 2010 (AFP) – India’s seven-billion-dollar microfinance industry could be thrown into crisis by a bill that seeks to regulate lending to the poor more tightly, a lobby representing the sector has warned. The sector is also under fire in neighbouring Bangladesh where the micro lending model was pioneered, with Prime Minister […]
Naval Amity
Dec 12, 2010 (LBO) – Warships from foreign navies, including India, joined Sri Lanka’s navy in a sail past Saturday amid improving maritime security co-operation to combat crimes on the high seas like human and arms smuggling. The Chinese navy sent the frigate ‘Lanzhou’ and Pakistan the frigate ‘Zulfiqar’ while the navies of Iran, Thailand […]
Sri Lanka policy consistency seen needed for investor confidence
Dec 11, 2010 (LBO) – Sri Lanka should have consistent government policies to increase private sector confidence to invest more in the economy which in turn would boost economic growth, a senior chartered accountant said. A total of 57 awards were given out at the ceremony for finance, banking, hotel, health, manufacturing and insurance sectors. […]
Court orders Air India to rehire overweight air hostess
NEW DELHI, December 10, 2010 (AFP) – An Indian court ordered state-run Air India on Friday to rehire an airline hostess that the carrier had sacked nearly a decade ago for being overweight. Dismissed overweight women have previously unsuccessfully challenged Air India’s policy in Indian courts, which upheld clauses in the group’s employment contracts. Neepa […]
Nations set up global climate fund
CANCUN, December 11, 2010 (AFP) – Global talks on climate change on Saturday set up a new fund to manage billions of dollars in aid to poor nations in a hard-fought package urging deep cuts in industrial emissions. After two weeks of talks in Mexico and two virtually sleepless final days, more than 190 countries […]
Baby Saga
December 10, 2010 (AFP) – Sri Lanka’s child protection authorities have traced the biological mother of a six-year-old girl who was suspected to have been sold as an orphan after the 2004 Indian Ocean tsunami, police said Friday. Staff at the National Child Protection Authority (NCPA) took custody of the child after neighbours complained that […]
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December 9, 2010 (AFP) – A six-year-old girl found at a house in Colombo is believed to have been sold by a hospital worker soon after the 2004 Indian Ocean tsunami, Sri Lankan child protection authorities said Thursday. Staff at the National Child Protection Authority went to the house after neighbours complained that the girl […]
Ukraine to attend Nobel ceremony after public pressure
KIEV, December 9, 2010 (AFP) – Ukraine will send a diplomat to the Nobel peace prize ceremony for jailed Chinese dissident Liu Xiabo, a foreign ministry official said Thursday, after Kiev initially joined a boycott led by China. Ukraine will send the first secretary of the Ukrainian embassy in Norway to the ceremony on Friday, […]
Sri Lanka slain customs officer given integrity award
Dec 10, 2010 (LBO) – A Sri Lankan customs officer who was gunned down after he exposed corruption in the customs service was posthumously awarded the National Integrity Award by the corruption watchdog Transparency International. “Corruption is deep rooted in human greed. The temptations and opportunities for corruption are greater today than ever before. Faced […]
Sri Lanka fabric maker on rating watch negative after fraud allegation
Dec 10, 2010 (LBO) – Fitch Ratings said it placed Hayleys MGT Knitting Mills on ‘Rating Watch Negative’ after the Sri Lankan fabric manufacturer warned of losses when an inquiry revealed discrepancies in inventory and accounts receivables. Fitch has given Hayleys MGT Knitting Mills, a unit of the Hayleys conglomerate, a national long-term rating of […]
Sri Lanka Janashakthi Insurance rating upgraded
Dec 10, 2010 (LBO) – The claims paying ability of Sri Lanka’s Janashakthi Insurance has been upgraded to ‘A-‘ from ‘BBB+’ with a ‘stable’ outlook, on improving expense and claims ratios RAM Rating Lanka said. “Janashakthi’s rating continues to be supported by the Company’s strong competitive position in the general segment and its moderate underwriting […]